0955 GMT - Bayer sees its agricultural business on track to hit 2029 targets set a couple of years ago, but the market doesn't seem to be fully grasping the unit's potential, analysts at J.P. Morgan say in a research note. At an event held Wednesday, the German conglomerate reiterated its 2029 forecast for its agricultural division, with incremental sales of 3.5 billion euros over the 2024-29 period and an improvement in its underlying Ebitda margin to the mid-20s percentage range. The outlook confirmation is encouraging, because the unit's potential is undervalued by the market and consensus estimates for 2029 sales and underlying Ebitda are short of what Bayer's guidance implies by 3% and 9%, respectively, according to JPM. Bayer shares fall 0.5%.